SÃO PAULO Chinas exports of finished steel products to Latin America totaled 4.6 million tonnes last year, up 27 percent from 2011, according to regional steel association Alacero.
Latin America passed the European Union as the second-largest destination for Chinese steel exports in 2012, with South Korea standing as the largest buyer of Chinese products last year.
Chinas shipments of manufactured steel goods to Latin America rose 11 percent last year, while Chinese exports to the rest of the world increased just 6 percent.
Alacero noted that China reduced its imports of finished steel and steel-containing goods from Latin American countries last year, and the regional trade deficit rose 29 percent for finished steel and 41 percent for manufactured steel products.
Including transactions with China, Latin America recorded a $26.35-billion raw materials surplus last year but a $46.06-billion deficit in finished steel and manufactured steel goods.
A version of this article was first published by AMM sister publication Steel First.